Trade elasticities and market expectations in Brazil /

Trade elasticities and market expectations in Brazil /

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Bibliographic Details
Author / Creator:	Paiva, Claudio, author.
Imprint:	Washington, D.C : International Monetary Fund, ©2003.
Description:	1 online resource (21 pages) : illustrations
Language:	English
Series:	IMF working paper ; WP/03/140 IMF working paper ; WP/03/140.
Subject:	Elasticity (Economics) -- Brazil -- Econometric models. Foreign exchange rates -- Economic aspects -- Brazil -- Econometric models. Tariff -- Brazil -- Econometric models. Commerce -- Econometric models. Elasticity (Economics) -- Econometric models. Tariff -- Econometric models. Brazil -- Commerce -- Econometric models. Brazil.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12497014

Hidden Bibliographic Details
Other authors / contributors:	IMF Institute. International Monetary Fund.
ISBN:	1451901305 9781451901306
Notes:	Includes bibliographical references (pages 20-21). Restrictions unspecified Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010. Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 digitized 2010 HathiTrust Digital Library committed to preserve Print version record.
Summary:	This paper provides econometric estimates of trade elasticities for Brazil obtained through cointegration and vector auto regression models and controlling for the effects of exchange rate volatility, capacity utilization, and changes in import tariffs. The results suggest that (i) recent market expectations may have been unduly pessimistic regarding the responsiveness of Brazil's trade flows to the real exchange rate, but (ii) the GDP growth rates targeted by the new government may put downward pressure on the exchange rate and thus render the achievement of official inflation targets considerably more difficult if structural reforms are not implemented.
Other form:	Print version: Paiva, Claudio. Trade elasticities and market expectations in Brazil. Washington, D.C : International Monetary Fund, ©2003

Description
Summary:	This paper provides econometric estimates of trade elasticities for Brazil obtained through cointegration and vector auto regression models and controlling for the effects of exchange rate volatility, capacity utilization, and changes in import tariffs. The results suggest that (i) recent market expectations may have been unduly pessimistic regarding the responsiveness of Brazil's trade flows to the real exchange rate, but (ii) the GDP growth rates targeted by the new government may put downward pressure on the exchange rate and thus render the achievement of official inflation targets considerably more difficult if structural reforms are not implemented.
Physical Description:	1 online resource (21 pages) : illustrations
Format:	Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Bibliography:	Includes bibliographical references (pages 20-21).
ISBN:	1451901305 9781451901306